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Rotherhill completes lease re-gear for Meggitt Plc
Midlands-based property developer Rotherhill has completed a lease re-gear for UK aerospace manufacturer Meggitt Plc’s facility in Shepshed, Leicestershire.
Meggitt has occupied the site on Gelders Hall Road since its construction in 1987 (previously as Cobham Composites), with buildings extending to 48,845 sq ft set upon 3.8 acres.
The original agreement made in February 2022 was for a 3.25-year leaseback in order to allow Meggitt to relocate to a nearby site.
Following the takeover of Meggitt by US manufacturer Parker Hannifin Corporation in September 2022, Rotherhill agreed terms for a lease re-gear of up to 11.5 years. The terms of the lease re-gear also allowed for the release of development land, enabling a future industrial development of circa 30,000 sq ft.
Ed Jeffrey, associate director at Rotherhill, says: “We are delighted to have completed the lease re-gear with Meggitt and that they have chosen to commit to the location for the long term.
“The new agreement enables us to bring forward land for future development, whilst improving the rental return on the existing buildings and extending the duration of income for up to 11.5 years from an excellent covenant.
“It has been satisfying to develop a long-term relationship with Meggitt, working flexibly to accommodate their requirements whilst generating value for our investor partner.”
Rotherhill director Paul Bagshaw adds: “Our experience and sector knowledge allows us to take on investment and redevelopment opportunities with short term income. By proactively working with the current occupiers, we’ve been able to meet their requirements and achieve a positive and favourable outcome for all involved.”
Rule change allows advice and funding for the region’s tiniest SMEs
• Digital Road Mapping – A lighter touch road map is available to Micro businesses, which will set out a Digital Implementation Plan.
• Access to 10 hours of fully funded Industrial Digital Technology Advice (IDTA)
• Grant funding to support CAPEX and revenue projects.
Programme Director Dr Chris Owen said: “We can now expand the scope of the East Midlands Made Smarter programme to thousands of micro SME Manufacturers across the region. Since we opened our doors for business in December 2022, we have had a healthy interest from micro sized manufacturers who are eager for support to adopt industrial digital technology but we have been unable to help them. “We’ll be reaching out to all those micro manufacturers who have already registered and expression of interest in Made Smarter East Midlands, and opening our doors to new expressions of interest from other micro manufacturers across the region. We have created a pathway of support specifically designed for micro manufacturers, which is quicker and lighter touch than the core programme, but still gives companies access to packages of free and impartial technical advice and grant funding of up to £20,000 to help them adopt industrial digital technology.” Alongside the new Micro manufacturer pathway the core programme will still continue to accept expressions of interest from manufacturers with headcounts of 10 to 249 people. In just one year, Made Smarter East Midlands has engaged with over 150 manufacturing businesses across the region providing much needed grant funding, free and impartial technical advice, digital transformation road mapping and Leadership Development. To find out more about what is available, visit the Made Smarter East Midlands website, where you can also express your interest and sign up to this fantastic opportunity https://www.madesmarter.uk/adoption/in-my-region/east-midlands/Science staff step up to the plate helping Derby County charity give hot meal to hundreds of vulnerable people
Local businesses have been invited to join science company Lubrizol in supporting a valuable Derby County Football Club-backed project giving a hot meal to hundreds of people struggling under the ongoing cost of living crisis.
Derby County Community Trust (DCCT) is marking a year of its highly valued project giving weekly hot meals throughout autumn and winter to people who are suffering for a range of reasons in a society that is currently seeing soaring food, energy and mortgage costs.
The scheme, which launched in November 2022, sees between 50 and 60 people a week invited through referrals to enjoy a hot meal prepared Derby County Football Club chefs. Businesses sponsor the cost of the meal and their employees are invited to volunteer serve it too.
So far the project – backed with city council funding connected with the warm spaces scheme – has helped feed hundreds of people throughout Derby, including families struggling to feed children in half term; Ukrainian refugees; members of the homeless community; people with dementia and many others.
Meals are served at Harrison’s Hub, a café space formerly occupied by Starbucks which is now run by the Community Trust to offer its wide range of activities.
Lubrizol, a global science company with a Derbyshire headquarters based at Hazelwood, is a corporate partner of Derbyshire County Community Trust and has also sponsored its STEM learning scheme involving Sphero robots which is being offered to Derby school children to teach them about computer programming.
The company sponsored one of DCCT’s community meals and employees Tom Grazier, Claire Hollingshurst and Rachel Ollier turned out to help serve it. All three are members of Lubrizol’s charities and communities committee which gives thousands of pounds to many worthy causes throughout the year.
Rachel said: “We really enjoyed coming down to Harrison’s Hub at Derby County Football Club to help serve one of these community meals. But it was also very sobering to appreciate the need that many people in our community currently have for a service such as this.
“On the night we sponsored, there were lots of people there and it was clear how much they were looking forward to having a hot meal. It would be great if more businesses could come forward and support this much-needed scheme.”
Now DCCT is looking for businesses to help support the scheme from early 2024.
Pete Collins, DCCT business development manager, said: “We get different groups of people coming each week to our meals, although we do have some regular people we invite from our local homeless community too.
“There’s a growing need for the service we are providing. There are lots of health inequalities in Derby, and lots of social and economic inequalities that we are seeing too, all of which were compounded through Covid.
“There are more and more people going down into the lower end of these social economic groups and these health inequalities. It’s a growing issue and it’s a concerning issue, involving more members of the public than people perhaps realise.
“We’re extremely grateful to Lubrizol who have supported not just one of our meals but also our Sphero robot programme too. Their support is wonderful.
“Being one of our trust partners and sponsoring a weekly meal involves being attached to a very community minded programme. We are looking for businesses to support us from January onwards.”
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Over £1.5m of investment made in Loughborough student and graduate businesses
- 1,466 students taking part in extra-curricular enterprise activities including coaching, workshops and networking
- 184 students applying for funding to develop skills and help launch their start-up
- Allocation of over £82k in start-up funding to students and graduates
- 50% increase in female students applying for funding
- Over 36 new businesses created through LUinc.
- 330 people employed by student and graduate led businesses.
Duo of freehold sales completed in Colwick
